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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2020 - onwards
Version 2 of 2

26. Amendment of Part 16 of Principal Act (relief for investment in corporate trades)

(1) Section 497 of the Principal Act is amended -

(a) in subsection (3) -

(i) by substituting "B - A" for "A - B", and

(ii) by substituting "is the greater of" for "is the lesser of",

and

(b) in subsection (4) -

(i) by deleting "(in this section referred to as the "relevant issue")",

(ii) by substituting "B - A" for "A - B",

(iii) by substituting "is the greater of" for "is the lesser of", and

(iv) by deleting "before the relevant issue".

(2) Section 502 of the Principal Act is amended -

(a) in subsection (2), by substituting "In respect of shares issued on or before 8 October 2019, a qualifying investor who makes a qualifying investment in a qualifying company shall be entitled, subject to this section, to relief for -" for "A qualifying investor who makes a qualifying investment in a qualifying company shall be entitled, subject to this section, to relief for -",